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General

This section contains miscellaneous & general financial information that you may find useful when dealing with certain life events.


Inheritance Tax

Inheritance Tax

A short explanation of Inheritance Tax and how to plan for it in your tax planning.

Capital Gains Tax (CGT)

Capital Gains Tax (CGT)

This document contains a short explanation of Capital Gains Tax, the allowances available in the 2024/25 tax year, and how you can use it in your year end tax planning.

Civil Partnerships

Civil Partnerships

Civil partnerships in the United Kingdom, granted under the Civil Partnership Act 2004, allow couples to obtain essentially the same rights and responsibilities as marriage. Initially the Act permitted only same-sex couples to form civil partnerships. This was altered to include opposite-sex couples in 2019. Though from March 2014 full same-sex marriage was legalised in England, Scotland and Wales, civil partnership remains available. Designed to be very much equivalent to marriage for same sex couples, a civil partnership carries both rights and responsibilities, in very broad terms, attracting the same legal and tax protections/advantages/disadvantages as a traditional marriage. This article explains further.

A "Bed and ISA" is a way to move investments held outside an ISA (Individual Savings Account) into an ISA, typically involving selling the investments and then repurchasing them within the ISA. This process allows investors to utilize their annual ISA allowance and protect future investment gains from capital gains tax (CGT). Read on to see a breakdown of the key aspects and rules:
A Gift Inter Vivos policy is a specific type of life insurance designed to cover potential Inheritance Tax (IHT) liabilities on gifts given during one's lifetime, known as Potentially Exempt Transfers (PETs). If the gift-giver dies within seven years of making the gift, the recipient may owe IHT on the gift, and this policy provides a lump sum to cover that potential tax. Find out more about the key aspects of a Gift Inter Vivos policy:
Carry forward relief allows individuals to use unused pension annual allowance from the previous three tax years to make larger pension contributions in the current tax year and still receive tax relief. This means that if you didn't use your full annual allowance in the past, you can potentially contribute more than the current year's allowance without incurring tax charges. Find out how it works:
If a spouse or civil partner dies, the surviving spouse or civil partner can inherit an additional ISA allowance, known as the Additional Permitted Subscription (APS), equal to the value of the deceased's ISA at the date of death. This allows the surviving spouse to invest an extra amount into their own ISA, on top of their usual annual allowance. This inheritance doesn't involve transferring the actual ISA account, but rather the right to make additional contributions. Here's a more detailed explanation: